Ideation Acquisition Corp. (AMEX: IDI) is a very unusual trading alert and may be among the first of this type of call. We are seeing a 1.75% gain to $8.15, which is not much of a gain, but the trading volume is 311,000 shares as of 12:24 PM EST. The stock was also active last week with over 900K shares traded on Wednesday. The culprit for today’s move was an initiation of research coverage by Ladenburg Thalmann with a BUY rating. This is ahead of a pending merger vote with SearchMedia. Ideation is a SPAC, a special purpose acquisition company, and SearchMedia is an outdoor billboard and in-elevator advertiser in China. -JON OGG
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